Insurance in MOtion – Lloyd’s innovation gathers pace

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Having invested time and money in the London Market Target Operating Model (TOM) program, Lloyd’s is forging ahead with its electronic placing platform, PPL.

The platform has proven its worth most recently in closing the Aon Client Treaty for 2018, a facility involving 4,000 lines for over 2,000 clients covering almost every very specialty risk in the market. Lloyd’s is keen to secure the benefits of the platform, including improved efficiencies and decreased costs, across more business.

The move could ultimately see use of the platform to made compulsory for Lloyd’s business.

Read more here.

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    QBE Insurance (Australia) Ltd v Allianz Australia insurance Limited [2020] FCA 589